The US national debt is the total amount of money that the country owes to others. It has now reached over $34 trillion, which is a very big number and has never been so high before. Some people are worried that this could cause problems with the value of the dollar or make it hard for the government to pay for important programs like healthcare and retirement. A financial expert suggests that investing in things like gold and real estate might be a good idea because they can help protect your money from these potential risks. Read from source...
1. The article title is misleading and sensationalist, as it suggests that Peter Schiff has a single question about the US national debt reaching $34 trillion, while in reality, he only expressed his doubt about the sustainability of the current situation and the likelihood of a crisis before the end of the year. His question is more like a rhetorical one, implying that the debt level is already alarming and unsustainable without further action or change.
2. The article also implies that Morgan Stanley analyst Shalett advised investors to shift their portfolios towards real assets as a response to the rising national debt, but it does not provide any evidence or explanation for why this would be a prudent strategy in the face of economic uncertainty and inflationary pressures. The article seems to assume that real assets are inherently more valuable or stable than financial assets, without considering the potential drawbacks or risks involved in investing in such assets, especially during times of market volatility or downturn.
3. The article cites several quotes from various experts and stakeholders, but it does not provide any context or background information for their opinions or perspectives, nor does it offer any critical analysis or evaluation of their claims or arguments. For example, the article mentions that Michael Peterson, CEO of the Peter G. Peterson Foundation, said that the debt rises because of structural drivers such as an aging population, high healthcare costs, rising interest costs, and a tax system that doesn't fund what we've promised. However, it does not explain how these factors have contributed to the current debt level, nor does it discuss any possible solutions or alternatives to address these challenges or risks.
4. The article also relies on emotional language and appeals to fear and uncertainty, such as using phrases like "soaring past", "the only question is, will there be a sovereign debt or #dollar crisis before the year ends", "fiscal AIgers", "looming government shutdown". These expressions are meant to create a sense of urgency and concern among readers, but they do not provide any factual evidence or logical reasoning to support their claims.
5. The article does not present a balanced or comprehensive view of the issue, as it only focuses on one side of the debate, namely the alarmist and negative perspectives that warn about the dire consequences of the growing national debt. It does not acknowledge any positive aspects or potential benefits of having a large and flexible budget, such as being able to finance important public projects, support social programs, or stimulate economic growth and recovery during crises. It also does not consider any alternative scenarios or options that might mitigate the risks or challenges associated
1. Gold bull Peter Schiff suggests investing in gold as a hedge against inflation and potential currency crisis. He argues that the US dollar is losing its status as the global reserve currency due to excessive debt and money printing. Therefore, he advises buying physical gold or gold ETFs such as GLD or IAU.